Investment Company 1PLUS12 Allegedly Involved in Fraud

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Mortgage and Lending with Homebase Mortgages 12785

1PLUS12 is an investment company that used to be trusted by their clients until news broke out that they are possibly linked to a $17M Toronto mortgage fraud. One of their consultants was also involved in a B.C. based financial company that lost almost $19M of its investors’ and creditors’ money.

Ruined Reputation?

1PLUS12 calls itself an ‘international investment training company’. They also claim that they can make their clients rich through their unique and uncommon approach to investing.

An investigation by Global News unearthed two lawsuits with a total of $6.4M against 1PLUS12. Further digging revealed that 1PLUS12 is linked to a $17M high-end real estate mortgage fraud in Toronto. It also came to light that one of 1PLUS12’s consultants is the same person behind Dexior Financial, a B.C. company that is facing financial issues after losing $19M of its investors’ and creditors’ money.

Unworthy of Trust?

A former client, named Roman Turlo, is now suing 1PLUS12 for almost $2. Turlo stated that the company is making money off of trusting, innocent people, adding that the company allegedly misrepresented real estate opportunities in a fraudulent manner. Turlo further shared that 1PLUS12 claims to use a mix of international and local real estate plus optimized tax and legal strategies to help people become financially independent and free.

1PLUS12 Introduction – Who Are They?

1PLUS12 still operates unregulated by the OSC, the Ontario Securities Commission or the FSCO, the Financial Services Commission of Ontario – the agency that watches over the mortgage industry. To date, 1PLUS12 still have upcoming workshops scheduled for April 2019 and May 2019. Experts express concern that this is a reflection of problems Canada’s real estate and investment sectors.

Glenn Estrabillo, the CEO of 1PLUS 12, declined several requests for an interview by Global News. Estrabillo stated that the company is fighting defamatory and false allegations in court and that they will continue to stand by their investment strategy. To date, none of the allegations against the company have been in court.

Investment Gone Wrong

Turlo shared that he began investing with 1PLUS12 in 2013. He began taking seminars and claims that he spent more than $700,000 as part of an 11-person investing group under 1PLUS12’s guidance.

According to Turlo’s lawsuit, the company promised exclusive mentorship and unique real estate investments that can produce more than 20% in returns. As a group, they spent more than $5.6M on a dozen properties, 1 in Belize and 11 in Ontario. The investment was pitched to them as low risk with good returns. Things were as expected for the first few years until Turlo found out that one of the properties they invested in was sold without their knowledge. This made him suspicious. Later discoveries are even more alarming as he found out that there was no record that their group ever invested in any of the properties.

Updates

This case is currently ongoing in court and 1PLUS12 declines to give further statements, saying that they are aware of the comments against them by a small number of investors and that they are facing the said investors in court.

Are you planning to invest in real estate but not sure about the company you want to work with? Do you need professional help finding out detailed information in a legal manner? Contact us and we’ll discuss how our private investigation services can help safeguard your investments and your future against fraud. Talk to us as soon as possible!

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Danny Papadopoulos

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